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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (31058)	10/22/1999 3:35:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Just ran all the numbers through the OEX chart only and we are my median tine and I will have a short term over bought indicator (blue diamond) but not a mid term one (red dot with 1 or 2). This should give at least a short term pullback in the time frame in line with Don's. We need another 100 points on the DOW to get to where I have my reversal target so there could be an over shoot in my tine Monday. I saw on another thread that 5 DOW components report earnings Monday. Unfortunately for the bearish argument, they are companies that I would expect to have done better then average this quarter due to rising oil coasts and the inflationary credit data we saw earlier. 4 of the companies are AXP, XON, MMM, and CHV, they weren't sure who the 5th was. Since reports the last couple months have been about how everyone is racking credit card debt, AXP should do OK and since Oil is much higher, I figure XON and CHV should do OK as well. Not sure who would miss and why to give us the excuse to reverse down so now I am even more cautious as the market would love to have some good news as an excuse to rally rather than just a day without a crisis like today. Note I do not track these companies fundamentaly, I have no idea what they are supposed to earn or how well the companies are run, I am just evaluationg based on reports and commodity prices lately so they could all miss for all I know. Just my opinion on the macro level. PS - On a day where we went up right off the bat and we still have over 200 new lows?????? Good Luck, Lee